M. Ayhan Kose

Development Prospects Group at the World Bank

Director

1818 H Street, NW

Washington, DC 20433

United States

SCHOLARLY PAPERS

66

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CITATIONS
Rank 462

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Top 462

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1,016

Scholarly Papers (66)

How Does Globalization Affect the Synchronization of Business Cycles?

IZA Discussion Paper No. 702
Number of pages: 18 Posted: 16 Mar 2003
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 2,558 (4,224)
Citation 60

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Macroeconomic Fluctuations, Trade and Financial Integration, International Transmission of Shocks, Cross-country Comovement of Output and Consumption

How Does Globalization Affect the Synchronization of Business Cycles?

IMF Working Paper No. 03/27
Number of pages: 14 Posted: 28 Jan 2006
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 119 (219,731)
Citation 60

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Macroeconomic fluctuations, trade and financial integration, output and consumption comovement

2.

The Great Plunge in Oil Prices: Causes, Consequences, and Policy Responses

Number of pages: 62 Posted: 30 Jun 2015
World Bank, Development Prospects Group at the World Bank, World Bank and World Bank
Downloads 1,182 (15,421)

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commodity prices, 2014 oil price decline, macroeconomic implications, supply factors, demand factors, unconventional oil production, global output, and global inflation

3.
Downloads 955 ( 21,255)
Citation 155

Financial Globalization: A Reappraisal

IMF Working Paper No. 06/189
Number of pages: 94 Posted: 03 Oct 2006
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 866 (24,105)
Citation 155

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Capital Account Liberalization, Financial Integration, Growth and Volatility, Financial Crises, Developing Countries

Financial Globalization: A Reappraisal

NBER Working Paper No. w12484
Number of pages: 91 Posted: 30 Aug 2006 Last Revised: 13 Aug 2010
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 56 (349,743)
Citation 155

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Financial Globalization: A Reappraisal

CEPR Discussion Paper No. 5842
Number of pages: 93 Posted: 16 Nov 2006
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 33 (434,581)
Citation 155
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Capital account liberalization, financial integration, growth and volatility, financial crises, developing countries

4.
Downloads 796 ( 27,652)
Citation 79

Financial Integration and Macroeconomic Volatility

IMF Working Paper No. 03/50
Number of pages: 28 Posted: 22 May 2003
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 796 (27,231)
Citation 79

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globalization, business cycles, volatility, macroeconomic fluctuations, emerging markets

Financial Integration and Macroeconomic Volatility

International Monetary Fund Staff Papers, Forthcoming
Posted: 22 May 2003
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)

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globalization, business cycles, volatility, macroeconomic fluctuations, emerging markets

How Does Financial Globalization Affect Risk Sharing? Patterns and Channels

IZA Discussion Paper No. 2903
Number of pages: 46 Posted: 20 Jul 2007
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 456 (56,833)
Citation 23

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international financial integration, risk sharing, cross-country correlations of consumption and output, composition of capital flows

How Does Financial Globalization Affect Risk Sharing? Patterns and Channels

IMF Working Paper No. 07/238
Number of pages: 43 Posted: 20 Nov 2007
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 181 (154,861)
Citation 23

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Financial integration, Globalization, Developing countries, Financial risk

Changing Nature of North-South Linkages: Stylized Facts and Explanations

IMF Working Paper No. 07/280
Number of pages: 59 Posted: 27 Dec 2007
Çiğdem Akın and M. Ayhan Kose
Johns Hopkins University SAIS International Economics Program and Development Prospects Group at the World Bank
Downloads 335 (82,181)
Citation 10

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Working Paper

Changing Nature of North-South Linkages: Stylized Facts and Explanations

Number of pages: 56 Posted: 17 Dec 2007 Last Revised: 07 Feb 2008
Çiğdem Akın and M. Ayhan Kose
Johns Hopkins University SAIS International Economics Program and Development Prospects Group at the World Bank
Downloads 291 (96,264)
Citation 10

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Business cycles, emerging markets, growth linkages, north, south, globalization, decoupling, divergence, convergence

7.
Downloads 623 ( 38,538)
Citation 22

Financial Globalization and Economic Policies

IZA Discussion Paper No. 4037
Number of pages: 84 Posted: 02 Mar 2009
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 361 (75,281)
Citation 22

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financial globalization, emerging markets, capital flows, capital account liberalization

Financial Globalization and Economic Policies

Brookings Global Economy and Development Working Paper No. 34
Number of pages: 80 Posted: 24 Apr 2009
Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics, Development Prospects Group at the World Bank and Columbia Business School - Finance and Economics
Downloads 251 (112,580)
Citation 22

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development, developing countries, global economics, global economic crisis

Financial Globalization and Economic Policies

CEPR Discussion Paper No. DP7117
Number of pages: 85 Posted: 18 Feb 2009
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 11 (560,820)
Citation 22
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capital account liberalization, financial globalization

8.
Downloads 619 ( 38,856)
Citation 44

What Happens During Recessions, Crunches, and Busts?

IMF Working Paper No. 08/274
Number of pages: 77 Posted: 18 Dec 2008
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 455 (56,987)
Citation 44

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Economic recession, Business cycles, Financial crisis, Credit, Housing prices, Stock prices, Oil prices, Databases, Economic models

What Happens during Recessions, Crunches and Busts?

Number of pages: 68 Posted: 22 Dec 2008
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 157 (175,627)
Citation 44

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Business cycles, recessions, credit crunches, house prices, equity prices, busts

What Happens during Recessions, Crunches and Busts?

CEPR Discussion Paper No. DP7085
Number of pages: 78 Posted: 17 Feb 2009
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 6 (590,806)
Citation 44
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business cycles, busts, credit crunches, equity prices, house prices, recessions

What Happens During Recessions, Crunches and Busts?

Economic Policy, Vol. 24, Issue 60, pp. 653-700, October 2009
Number of pages: 48 Posted: 08 Oct 2009
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 1 (632,909)
Citation 44
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9.

International Business Cycles: World, Region, and Country-Specific Factors

Number of pages: 31 Posted: 25 Apr 2000
Development Prospects Group at the World Bank, University of Missouri and Pennsylvania State University - Smeal College of Business
Downloads 579 (42,437)
Citation 130

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Understanding Financial Crises: Causes, Consequences, and Policy Responses

CAMA Working Paper 05/2013
Number of pages: 23 Posted: 19 Jul 2013
Bank for International Settlements, Development Prospects Group at the World Bank, European Central Bank (ECB) and International Monetary Fund (IMF)
Downloads 451 (57,601)

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Global financial crisis, sudden stops, debt crises, banking crises, currency crises, defaults, restructuring, welfare cost, asset price busts, credit busts, prediction of crises

Understanding Financial Crises: Causes, Consequences, and Policy Responses

CEPR Discussion Paper No. DP9310
Number of pages: 24 Posted: 01 Feb 2013
Bank for International Settlements, Development Prospects Group at the World Bank, European Central Bank (ECB) and International Monetary Fund (IMF)
Downloads 19 (511,561)
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asset price busts, banking crises, credit busts, currency crises, debt crises, defaults, global financial crisis, prediction of crises, restructuring, sudden stops, welfare cost

11.
Downloads 368 ( 74,184)
Citation 36

Global Business Cycles: Convergence or Decoupling?

IZA Working Paper No. 3442
Number of pages: 53 Posted: 23 May 2008
M. Ayhan Kose, Christopher Otrok and Eswar S. Prasad
Development Prospects Group at the World Bank, University of Missouri and Cornell University - Dyson School of Applied Economics and Management
Downloads 180 (155,638)
Citation 36

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globalization, business cycles, macroeconomic fluctuations, convergence, decoupling

Global Business Cycles: Convergence or Decoupling?

Number of pages: 51 Posted: 06 Apr 2008
M. Ayhan Kose, Christopher Otrok and Eswar S. Prasad
Development Prospects Group at the World Bank, University of Missouri and Cornell University - Dyson School of Applied Economics and Management
Downloads 116 (223,945)
Citation 36

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Globalization, Business cycles, Macroeconomic fluctuations, Convergence, Decoupling

Global Business Cycles: Convergence or Decoupling?

IMF Working Paper No. 08/143
Number of pages: 50 Posted: 21 Sep 2009
M. Ayhan Kose, Christopher Otrok and Eswar S. Prasad
Development Prospects Group at the World Bank, University of Missouri and Cornell University - Dyson School of Applied Economics and Management
Downloads 46 (382,831)
Citation 36

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Business cycles, Globalization, Developed countries, Developing countries, Spillovers, Economic conditions, Economic integration

Global Business Cycles: Convergence or Decoupling?

NBER Working Paper No. w14292
Number of pages: 53 Posted: 08 Oct 2008 Last Revised: 22 Jul 2010
M. Ayhan Kose, Christopher Otrok and Eswar S. Prasad
Development Prospects Group at the World Bank, University of Missouri and Cornell University - Dyson School of Applied Economics and Management
Downloads 16 (529,686)
Citation 36

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Global Business Cycles: Convergence or Decoupling?

Bundesbank Series 1 Discussion Paper No. 2008,17
Number of pages: 76 Posted: 08 Jun 2016
M. Ayhan Kose, Christopher Otrok and Eswar S. Prasad
Development Prospects Group at the World Bank, University of Missouri and Cornell University - Dyson School of Applied Economics and Management
Downloads 8 (578,949)
Citation 36

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Globalization, Business cycles, Macroeconomic fluctuations, Convergence, Decoupling

Global Business Cycles: Convergence or Decoupling?

International Economic Review, Vol. 53, Issue 2, pp. 511-538, 2012
Number of pages: 28 Posted: 23 May 2012
M. Ayhan Kose, Christopher Otrok and Eswar S. Prasad
Development Prospects Group at the World Bank, University of Missouri and Cornell University - Dyson School of Applied Economics and Management
Downloads 2 (620,049)
Citation 36
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12.
Downloads 315 ( 88,630)
Citation 2

Financial Crises: Explanations, Types and Implications

CAMA Working Paper 06/2013
Number of pages: 66 Posted: 19 Jul 2013
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements and Development Prospects Group at the World Bank
Downloads 171 (162,920)
Citation 2

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Sudden stops, debt crises, banking crises, currency crises, defaults, policy implications, financial restructuring, asset booms, credit booms, crises prediction

Financial Crises Explanations, Types, and Implications

IMF Working Paper No. 13/28
Number of pages: 67 Posted: 22 Feb 2013
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements and Development Prospects Group at the World Bank
Downloads 136 (197,833)
Citation 2

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Sudden stops, asset booms, banking crises, credit booms, crises prediction., currency crises, debt crises, defaults, financial restructuring, policy implications

Financial Crises: Explanations, Types, and Implications

CEPR Discussion Paper No. DP9329
Number of pages: 67 Posted: 05 Feb 2013
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements and Development Prospects Group at the World Bank
Downloads 8 (578,949)
Citation 2
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asset booms, banking crises, credit booms, crises prediction, currency crises, debt crises, defaults, financial restructuring, policy implications, Sudden stops

13.

Out of the Ballpark: The Global Recession of 2007-08 in Historical Context

Finance & Development, June 2009
Number of pages: 4 Posted: 09 Dec 2009
Prakash Loungani, M. Ayhan Kose and Marco E. Terrones
International Monetary Fund (IMF), Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 280 (100,903)

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14.

Dynamics of Open Economy Business Cycle Models: Understanding the Role of the Discount Factor

Number of pages: 29 Posted: 19 May 2000
Sunghyun Henry Kim and M. Ayhan Kose
Sungkyunkwan University - Department of Economics and Development Prospects Group at the World Bank
Downloads 259 (109,463)
Citation 11

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Dynamics of Business Cycles in Asia: Differences and Similarities

Number of pages: 42 Posted: 21 Jun 2000
Sungkyunkwan University - Department of Economics, Development Prospects Group at the World Bank and Brandeis University - International Business School
Downloads 229 (123,628)
Citation 12

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Dynamics of Business Cycles in Asia: Differences and Similarities

Review of Development Economics, Vol. 7, pp. 462-477, August 2003
Number of pages: 16 Posted: 04 Sep 2003
Sungkyunkwan University - Department of Economics, Development Prospects Group at the World Bank and Brandeis University - International Business School
Downloads 28 (458,795)
Citation 12
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16.

The Global Financial Crisis: How Similar? How Different? How Costly?

Number of pages: 34 Posted: 23 Mar 2010
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 255 (111,244)
Citation 4

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Global financial crisis, Similarities, Differences, Cost, Recessions

17.

Frontiers of Macrofinancial Linkages

BIS Paper No. 95
Number of pages: 199 Posted: 25 Jan 2018
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements and Development Prospects Group at the World Bank
Downloads 251 (113,080)

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18.
Downloads 241 (117,876)
Citation 4

Regionalization vs. Globalization

CAMA Working Paper 09/2013
Number of pages: 64 Posted: 19 Jul 2013
Hideaki Hirata, M. Ayhan Kose and Christopher Otrok
Hosei University, Development Prospects Group at the World Bank and University of Missouri
Downloads 153 (179,490)
Citation 4

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Business cycles, Comovement, Synchronization, Trade linkages, Financial linkages

Regionalization vs. Globalization

FRB of St. Louis Working Paper No. 2013-002A
Number of pages: 67 Posted: 08 Jan 2013
Hideaki Hirata, M. Ayhan Kose and Christopher Otrok
Hosei University, Development Prospects Group at the World Bank and University of Missouri
Downloads 45 (386,348)
Citation 4

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business cycles, comovement, synchronization, trade linkages, financial linkages

Regionalization vs. Globalization

IMF Working Paper No. 13/19
Number of pages: 66 Posted: 22 Feb 2013
Hideaki Hirata, M. Ayhan Kose and Christopher Otrok
Hosei University, Development Prospects Group at the World Bank and University of Missouri
Downloads 43 (393,673)
Citation 4

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Bilateral trade, Business cycles, Comovement, Cross country analysis, Economic models, Financial linkages, Globalization, Synchronization, Time series, Trade linkages

Thresholds in the Process of International Financial Integration

World Bank Policy Research Working Paper No. 5149
Number of pages: 43 Posted: 20 Apr 2016
M. Ayhan Kose, Eswar S. Prasad and Ashley D. Taylor
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and World Bank
Downloads 107 (237,562)
Citation 17

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Debt Markets, Economic Theory & Research, Currencies and Exchange Rates, Emerging Markets, Achieving Shared Growth

Thresholds in the Process of International Financial Integration

IZA Discussion Paper No. 4133
Number of pages: 51 Posted: 28 Apr 2009
M. Ayhan Kose, Eswar S. Prasad and Ashley Taylor
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and London School of Economics & Political Science (LSE)
Downloads 61 (335,066)
Citation 17

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financial openness, capital account liberalization, growth, threshold conditions, financial development, institutions, macroeconomic policies

Thresholds in the Process of International Financial Integration

Brookings Global Economy and Development Working Paper No. 35
Number of pages: 46 Posted: 31 May 2009
Eswar S. Prasad, M. Ayhan Kose and Ashley D. Taylor
Cornell University - Dyson School of Applied Economics and Management, Development Prospects Group at the World Bank and World Bank
Downloads 39 (408,965)
Citation 17

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international finance, developing countries, financial institutions, global economics

Thresholds in the Process of International Financial Integration

NBER Working Paper No. w14916
Number of pages: 50 Posted: 29 Apr 2009 Last Revised: 05 May 2009
M. Ayhan Kose, Eswar S. Prasad and Ashley D. Taylor
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and World Bank
Downloads 29 (453,587)
Citation 17

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20.

How Has NAFTA Affected the Mexican Economy? Review and Evidence

IMF Working Paper No. 04/59
Number of pages: 49 Posted: 15 Feb 2006
M. Ayhan Kose, Guy Meredith and Christopher Towe
Development Prospects Group at the World Bank, International Monetary Fund (IMF) - Research Department and affiliation not provided to SSRN
Downloads 234 (121,439)
Citation 12

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NAFTA, Mexico, Growth, Trade, Regional Trade, Business Cycles

21.

Can World Real Interest Rates Explain Business Cycles in a Small Open Economy?

FRB of New York Staff Report No. 94
Number of pages: 27 Posted: 20 Feb 2000
William F. Blankenau, M. Ayhan Kose and Kei-Mu Yi
Kansas State University - Department of Economics, Development Prospects Group at the World Bank and University of Houston - Department of Economics
Downloads 230 (123,532)
Citation 19

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world interest rates, business cycles, dynamic stochastic general equilibrium models, small open economy

Does Openness to International Financial Flows Raise Productivity Growth?

Brookings Global Economy and Development Working Paper No. 32
Number of pages: 46 Posted: 23 Jan 2009
Eswar S. Prasad, Marco E. Terrones and M. Ayhan Kose
Cornell University - Dyson School of Applied Economics and Management, International Monetary Fund (IMF) and Development Prospects Group at the World Bank
Downloads 103 (244,024)
Citation 20

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global economics, financial markets, economic development, globalization, financial openness

Does Openness to International Financial Flows Raise Productivity Growth?

IMF Working Paper No. 08/242
Number of pages: 41 Posted: 18 Dec 2008
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 91 (265,395)
Citation 20

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Capital flows, Productivity, Production growth, Capital account, Foreign direct investment, Development, Debt, Economic models

Does Openness to International Financial Flows Raise Productivity Growth?

NBER Working Paper No. w14558
Number of pages: 45 Posted: 15 Jan 2009 Last Revised: 17 Mar 2010
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 27 (464,096)
Citation 20

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23.
Downloads 219 (129,657)
Citation 16

Financial Cycles: What? How? When?

IMF Working Paper No. 11/76
Number of pages: 41 Posted: 13 Apr 2011
affiliation not provided to SSRN, Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 212 (133,334)
Citation 16

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Business cycles, Capital markets, Credit, Demand, Developed countries, Housing prices, Stock prices

Financial Cycles: What? How? When?

CEPR Discussion Paper No. DP8379
Number of pages: 43 Posted: 19 May 2011
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 7 (584,886)
Citation 16
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asset busts, credit booms, credit cycles, crunches, equity prices, house prices

24.

Trade Shocks and Macroeconomic Fluctuations in Africa

CESifo Working Paper Series No. 203
Number of pages: 46 Posted: 18 Nov 1998
M. Ayhan Kose and Raymond G. Riezman
Development Prospects Group at the World Bank and University of Iowa - Henry B. Tippie College of Business - Department of Economics
Downloads 215 (131,926)
Citation 21

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Trade shocks, dynamic stochastic quantitative trade model, African economies

Negative Interest Rate Policies: Sources and Implications

CAMA Working Paper No. 52/2016
Number of pages: 73 Posted: 25 Aug 2016
World Bank, Development Prospects Group, Development Prospects Group at the World Bank, World Bank and World Bank
Downloads 71 (308,716)

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Unconventional Monetary Policy, Quantitative Easing; Bank Profitability, Financial Stability, Negative Yields, Event Study, Emerging Markets, Developing Countries

26.

The Trade Comovement Problem in International Macroeconomics

FRB of New York Staff Report No. 155
Number of pages: 30 Posted: 04 Apr 2003
M. Ayhan Kose and Kei-Mu Yi
Development Prospects Group at the World Bank and University of Houston - Department of Economics
Downloads 204 (138,615)
Citation 16

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international trade, international business cycles, comovement, stochastic dynamic business cycle model, synchronization

Asset Prices and Macroeconomic Outcomes: A Survey

CAMA Working Paper No. 76/2017
Number of pages: 98 Posted: 01 Dec 2017
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements and Development Prospects Group at the World Bank
Downloads 29 (453,587)

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equity prices, exchange rates, house prices, interest rates, credit, output, consumption, investment, real-financial linkages, macro-financial linkages, imperfections, frictions

28.

Understanding the Evolution of World Business Cycles

IMF Working Paper No. 05/211
Number of pages: 36 Posted: 03 Mar 2006
Development Prospects Group at the World Bank, University of Missouri and Pennsylvania State University - Smeal College of Business
Downloads 191 (147,478)
Citation 56

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International business cycles, globalization, transmission of macroeconomic fluctuations

29.

How Do Trade and Financial Integration Affect the Relationship between Growth and Volatility

IZA Discussion Paper No. 2252, IMF Working Paper No. 05/19, FRB of San Francisco Working Paper No. 2004-29
Number of pages: 44 Posted: 08 Sep 2006
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 183 (153,320)
Citation 59

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globalization, international trade and financial linkages, macroeconomic

Slowdown in Emerging Markets: Rough Patch or Prolonged Weakness?

CAMA Working Paper 1/2016
Number of pages: 67 Posted: 14 Jan 2016 Last Revised: 22 Jan 2016
World Bank, Development Prospects Group at the World Bank, World Bank and World Bank
Downloads 176 (158,798)

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Emerging markets, growth slowdown, policy space, monetary policy, fiscal policy, structural reforms

Does Openness to International Financial Flows Contribute to Productivity Growth?

Number of pages: 44 Posted: 22 Jul 2008
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 86 (275,070)
Citation 17

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Financial opennes, capital account liberalization, capital flows, external assets and liabilities, foreign direct investment, portfolio equity, debt, total factor productivity

Does Openness to International Financial Flows Contribute to Productivity Growth?

IZA Discussion Paper No. 3634
Number of pages: 46 Posted: 11 Aug 2008
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 75 (298,993)
Citation 17

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financial openness, capital account liberalization, capital flows, external assets and liabilities, foreign direct investment, portfolio equity, debt, total factor productivity

Macroeconomic Implications of Financial Imperfections: A Survey

CAMA Working Paper No. 75/2017
Number of pages: 116 Posted: 01 Dec 2017
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements and Development Prospects Group at the World Bank
Downloads 11 (560,820)

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asset prices, balance sheets, credit, financial accelerator, financial intermediation, financial linkages, international linkages, leverage, liquidity, macro-financial linkages, output, real-financial linkages

Can the Standard International Business Cycle Model Explain the Relation between Trade and Comovement?

IMF Working Paper No. 05/204
Number of pages: 40 Posted: 03 Mar 2006
M. Ayhan Kose and Kei-Mu Yi
Development Prospects Group at the World Bank and University of Houston - Department of Economics
Downloads 82 (283,322)
Citation 32

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international trade, international business cycle comovement

Can the Standard International Business Cycle Model Explain the Relation between Trade and Comovement?

FRB Philadelphia Working Paper No. 05-3
Number of pages: 39 Posted: 16 May 2005
M. Ayhan Kose and Kei-Mu Yi
Development Prospects Group at the World Bank and University of Houston - Department of Economics
Downloads 66 (321,401)
Citation 32

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International trade, International business cycle comovement

Challenges of Fiscal Policy in Emerging and Developing Economies

CAMA Working Paper No. 34/2016
Number of pages: 37 Posted: 16 Jun 2016
Raju Huidrom, M. Ayhan Kose and Franziska Ohnsorge
World Bank, Development Prospects Group at the World Bank and World Bank
Downloads 105 (240,686)

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Fiscal Space, Fiscal Policy, Developing Economies, Growth Slowdown, Fiscal Rules, Stabilization Funds, Expenditure Frameworks

35.

Small Countries and Preferential Trade Agreements 'How Severe is the Innocent Bystander Problem?'

CESifo Working Paper Series No. 253
Number of pages: 30 Posted: 22 Jun 2000
M. Ayhan Kose and Raymond G. Riezman
Development Prospects Group at the World Bank and University of Iowa - Henry B. Tippie College of Business - Department of Economics
Downloads 138 (194,900)
Citation 2

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Globalization, the Business Cycle, and Macroeconomic Monitoring

IMF Working Paper No. 11/25
Number of pages: 53 Posted: 07 Feb 2011
Development Prospects Group at the World Bank, University of Maryland - Department of Economics, International Monetary Fund (IMF) and University of Pennsylvania - The Ronald O. Perelman Center for Political Science and Economics (PCPSE)
Downloads 101 (247,456)
Citation 2

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Business cycles, Cross country analysis, Globalization, Group of seven

Globalization, the Business Cycle, and Macroeconomic Monitoring

NBER Working Paper No. w16264
Number of pages: 52 Posted: 16 Aug 2010
University of Maryland - Department of Economics, University of Pennsylvania - The Ronald O. Perelman Center for Political Science and Economics (PCPSE), Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 24 (481,310)
Citation 2

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37.

Sources of Fluctuations: The Case of MENA

Number of pages: 30 Posted: 05 Oct 2005
Hideaki Hirata, M. Ayhan Kose and Sunghyun Henry Kim
Hosei University, Development Prospects Group at the World Bank and Sungkyunkwan University - Department of Economics
Downloads 124 (212,120)
Citation 1

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MENA, business cycles, macroeconomic fluctuations, globalization, emerging markets

Capital Inflows: Macroeconomic Implications and Policy Responses

IMF Working Paper No. 09/40
Number of pages: 62 Posted: 23 Mar 2009
International Monetary Fund (IMF), International Monetary Fund (IMF) - Policy Development and Review Department and Development Prospects Group at the World Bank
Downloads 116 (223,945)
Citation 9

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Working Papers

Capital Inflows: Macroeconomic Implications and Policy Responses

Economic Systems, Vol. 34, No. 4, 2010
Posted: 30 Jul 2011
International Monetary Fund (IMF), International Monetary Fund (IMF) - Policy Development and Review Department and Development Prospects Group at the World Bank

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Capital inflows, Sudden stops, Crises, Sterilization, Capital controls

39.

How Do Business and Financial Cycles Interact?

IMF Working Paper No. 11/88
Number of pages: 55 Posted: 26 Apr 2011
affiliation not provided to SSRN, Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 110 (231,654)
Citation 16

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Business cycles, Economic models, Economic recession, Economic recovery, Financial sector, Fiscal policy, Monetary policy

40.

Volatility and Comovement in a Globalized World Economy An Empirical Exploration

IMF Working Paper No. 03/246
Number of pages: 38 Posted: 15 Feb 2006
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 105 (239,338)
Citation 18

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Business cycles macroeconomic fluctuations volatility correlations globalization

How Different is the Cyclical Behavior of Home Production Across Countries?

Number of pages: 30 Posted: 29 Jan 2002
William F. Blankenau and M. Ayhan Kose
Kansas State University - Department of Economics and Development Prospects Group at the World Bank
Downloads 58 (343,732)
Citation 1

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Business cycles, dynamic stochastic general equilibrium, open economy, labor hours

How Different is the Cyclical Behavior of Home Production Across Countries?

IMF Working Paper No. 06/46
Number of pages: 32 Posted: 23 Mar 2006
William F. Blankenau and M. Ayhan Kose
Kansas State University - Department of Economics and Development Prospects Group at the World Bank
Downloads 44 (389,957)
Citation 1

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Business cycles, home (non-market), production, general equilibrium

42.

The Coming US Interest Rate Tightening Cycle: Smooth Sailing or Stormy Waters?

CAMA Working Paper No. 37/2015
Number of pages: 71 Posted: 12 Oct 2015 Last Revised: 13 Oct 2015
World Bank, Development Prospects Group, Development Prospects Group at the World Bank, World Bank and World Bank
Downloads 101 (245,897)

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Federal Reserve, liftoff, tightening, interest rates, monetary policy, emerging markets, frontier markets, capital flows, sudden stops, crises

43.

Emerging Markets Come of Age

Finance and Development, p. 7, December 2010
Number of pages: 5 Posted: 18 Dec 2010
M. Ayhan Kose and Eswar S. Prasad
Development Prospects Group at the World Bank and Cornell University - Dyson School of Applied Economics and Management
Downloads 98 (250,979)

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44.

The Global Role of the U.S. Economy: Linkages, Policies and Spillovers

CAMA Working Paper No. 13/2017
Number of pages: 36 Posted: 10 Feb 2017
Development Prospects Group at the World Bank, World Bank, World Bank and World Bank
Downloads 93 (259,614)

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United States, Uncertainty, Trade, Business Cycles, Global Economy

Do Fiscal Multipliers Depend on Fiscal Positions?

CAMA Working Paper No. 35/2016
Number of pages: 39 Posted: 16 Jun 2016
World Bank, Development Prospects Group at the World Bank, World Bank and World Bank
Downloads 23 (487,121)

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Fiscal Multipliers, Fiscal Position, State-Dependency, Ricardian Channel, Interest Rate Channel, Business Cycle

Global House Price Fluctuations: Synchronization and Determinants

IMF Working Paper No. 13/38
Number of pages: 48 Posted: 22 Feb 2013
Hosei University, Development Prospects Group at the World Bank, University of Missouri and International Monetary Fund (IMF)
Downloads 60 (337,982)
Citation 1

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Asset prices, Business cycles, Developed countries, Housing prices, Time series, business cycles, central bank, contractionary monetary policy, exchange rates, financial cycles, financial integration, financial intermediation, financial markets, global financial crisis, global financial markets, global liquidity, global real estate, globalization, globalization period, globalization periods, inflation, interest rates, international financial, international financial markets, long-term interest rates, monetary economics, monetary fund, monetary policy, monetary policy decisions, monetary shock, monetary shocks, transmission of monetary policy

Global House Price Fluctuations: Synchronization and Determinants

CAMA Working Paper 07/2013
Number of pages: 46 Posted: 19 Jul 2013
Hosei University, Development Prospects Group at the World Bank, University of Missouri and International Monetary Fund (IMF)
Downloads 21 (499,325)
Citation 1

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Monetary policy, interest rates, business cycles, financial cycles

Global House Price Fluctuations: Synchronization and Determinants

NBER Working Paper No. w18362
Number of pages: 44 Posted: 08 Sep 2012
Hosei University, Development Prospects Group at the World Bank, University of Missouri and International Monetary Fund (IMF)
Downloads 8 (578,949)
Citation 1

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47.

Economic Integration, Business Cycle, and Productivity in North America

IMF Working Paper No. 04/138
Number of pages: 47 Posted: 15 Feb 2006
M. Ayhan Kose
Development Prospects Group at the World Bank
Downloads 84 (276,750)
Citation 2

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Canada, United States, Business cycles, Productivity, NAFTA, CUSFTA, Regional Trade

48.

Remittances Over the Business Cycle: Theory and Evidence

CAMA Working Paper No. 13/2016
Number of pages: 35 Posted: 30 Mar 2016
World Bank, World Bank, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 80 (284,970)

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remittances, business cycles, acyclical, sudden stops, risk sharing

Financial Globalization, Growth and Volatility in Developing Countries

CEPR Discussion Paper No. 4772
Number of pages: 70 Posted: 15 Feb 2005
Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics, Columbia Business School - Finance and Economics and Development Prospects Group at the World Bank
Downloads 36 (421,664)
Citation 23
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Globalization, international financial linkages, macroeconomic volatility, growth

Financial Globalization, Growth and Volatility in Developing Countries

NBER Working Paper No. w10942
Number of pages: 69 Posted: 26 May 2012
Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics, Columbia Business School - Finance and Economics and Development Prospects Group at the World Bank
Downloads 34 (430,214)
Citation 23

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50.

Weakness in Investment Growth: Causes, Implications and Policy Responses

CAMA Working Paper No. 19/2017
Number of pages: 75 Posted: 08 Mar 2017
Development Prospects Group at the World Bank, World Bank, World Bank and World Bank
Downloads 68 (312,522)

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emerging markets, developing economies, investment slowdown, policy space, infrastructure investment, monetary policy, fiscal policy, structural reforms

51.

Recessions and Financial Disruptions in Emerging Markets: A Bird's Eye View

Central Bank of Chile Working Paper No. 585
Number of pages: 53 Posted: 17 Jul 2010
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 63 (325,341)

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Business cycles, Emerging Markets, Recessions, Financial Disruptions

52.

Do Credit Shocks Matter? A Global Perspective

IMF Working Paper No. 10/261
Number of pages: 38 Posted: 01 Feb 2011
International Monetary Fund (IMF) - Middle East and Central Asia Department, affiliation not provided to SSRN, Development Prospects Group at the World Bank and University of Missouri
Downloads 59 (336,134)
Citation 8

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Business cycles, Capital markets, Credit, Cross country analysis, Economic models, Economic recession, External shocks, Group of seven, Time series, United States

How Important are Spillovers from Major Emerging Markets?

CAMA Working Paper No. 37/2017
Number of pages: 31 Posted: 09 May 2017
Raju Huidrom, M. Ayhan Kose and Franziska Ohnsorge
World Bank, Development Prospects Group at the World Bank and World Bank
Downloads 18 (517,554)

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Business cycles, spillovers, external shocks, China, EM7, G7

54.

Gyrations in Financial Markets

Number of pages: 29 Posted: 16 Jul 2011
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 45 (379,378)

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55.

What are the Driving Forces of International Business Cycles?

NBER Working Paper No. w14380
Number of pages: 41 Posted: 08 Oct 2008 Last Revised: 03 Nov 2010
Mario J. Crucini, M. Ayhan Kose and Christopher Otrok
Vanderbilt University - College of Arts and Science - Department of Economics, Development Prospects Group at the World Bank and University of Missouri
Downloads 34 (420,365)
Citation 13

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How Does the Sensitivity of Consumption to Income Vary Over Time? International Evidence

World Bank Policy Research Working Paper No. 7659
Number of pages: 27 Posted: 17 May 2016
Ergys Islamaj and M. Ayhan Kose
World Bank and Development Prospects Group at the World Bank
Downloads 25 (475,432)

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Consumption, Debt Markets, Inequality, Economic Theory & Research, Emerging Markets

How Does the Sensitivity of Consumption to Income Vary Over Time? International Evidence

CAMA Working Paper No. 22/2016
Number of pages: 27 Posted: 04 May 2016
Ergys Islamaj and M. Ayhan Kose
World Bank and Development Prospects Group at the World Bank
Downloads 8 (578,949)

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Consumption Sensitivity, Financial Integration, Risk Sharing, Intertemporal Smoothing

57.

Specification and Estimation of Bayesian Dynamic Factor Models: A Monte Carlo Analysis with an Application to Global House Price Comovement

FRB St. Louis Working Paper No. 2015-31
Number of pages: 46 Posted: 20 Oct 2015
Bentley University - Department of Economics, Development Prospects Group at the World Bank, University of Missouri and Federal Reserve Bank of St. Louis - Research Division
Downloads 33 (424,439)

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principal components, Kalman filter, data augmentation, business cycles

58.

Understanding the Welfare Implications of Preferential Trade Agreements

Review of International Economics, Vol. 8, pp. 619-633, November 2000
Number of pages: 15 Posted: 01 Jul 2004
M. Ayhan Kose and Raymond G. Riezman
Development Prospects Group at the World Bank and University of Iowa - Henry B. Tippie College of Business - Department of Economics
Downloads 28 (446,651)
Citation 10
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59.

Small Countries and Preferential Trade Agreements: How Severe is the Innocent Bystander Problem?

Pacific Economic Review, Vol. 7, pp. 279-304, 2002
Number of pages: 26 Posted: 15 Feb 2003
M. Ayhan Kose and Raymond G. Riezman
Development Prospects Group at the World Bank and University of Iowa - Henry B. Tippie College of Business - Department of Economics
Downloads 26 (456,669)
Citation 2
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60.

A Cross-Country Database of Fiscal Space

CAMA Working Paper No. 48/2017
Number of pages: 48 Posted: 04 Aug 2017
Development Prospects Group at the World Bank, World Bank, World Bank and World Bank
Downloads 8 (554,734)

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Fiscal policy, sovereign debt, fiscal deficit, private debt, financial crises, oil prices.

61.

How Do Business and Financial Cycles Interact?

CEPR Discussion Paper No. DP8396
Number of pages: 55 Posted: 26 May 2011
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 6 (565,355)
Citation 16
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asset busts, booms, credit crunches, financial crises, recessions, recoveries

62.

From the Global to the National Cycle: An Intricate Liaison

Pacific Economic Review, Vol. 18, Issue 3, pp. 370-402, 2013
Number of pages: 33 Posted: 06 Aug 2013
M. Ayhan Kose, Prakash Loungani and Marco E. Terrones
Development Prospects Group at the World Bank, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 0 (618,093)
Citation 1
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63.

Integration and Fluctuations: The Case of MENA

Emerging Markets Finance and Trade, Vol. 40, No. 6, pp. 48-67, November-December 2004
Posted: 18 Oct 2005
Hideaki Hirata, Sunghyun Henry Kim and M. Ayhan Kose
Hosei University, Sungkyunkwan University - Department of Economics and Development Prospects Group at the World Bank

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Business cycles, globalization, macroeconomic fluctuations, MENA

64.

Explaining Business Cycles in Small Open Economies: How Much Do World Prices Matter?

Posted: 11 Sep 1998
M. Ayhan Kose
Development Prospects Group at the World Bank

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65.

Understanding the Welfare Implications of "Preferential Trade Agreements"

Posted: 06 Aug 1998
M. Ayhan Kose and Raymond G. Riezman
Development Prospects Group at the World Bank and University of Iowa - Henry B. Tippie College of Business - Department of Economics

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66.

External Shocks and Economic Dynamics: The Case of African Countries

University of Iowa Working Paper No. 155
Posted: 08 May 1998
M. Ayhan Kose and Raymond G. Riezman
Development Prospects Group at the World Bank and University of Iowa - Henry B. Tippie College of Business - Department of Economics

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